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Established member

what time frame?
i have heard that question asked many a time and have also racked my brains for years looking for the answer.
each time frame paints a different picture and i think the answer is to be totally faithful to one time frame.enter when the pattern dictates on that time frame and exit when it dictates.moving from one time frame to another trying to get the best entry and exits only adds to the confusion.
bigger the time frame-fewer,longer trades.bigger risk/reward and conversely for shorter time frames.
big players no doubt use daily/weekly charts.this can mean having to wait days/weeks,even months for a trade set up.over the years they have developed the patience to sit out and do nothing. this is what smaller players(including myself) should aspire to.
for now i need to develop my skills and need more action.for this i'll be trying to stay completely faithful to the 10min chart.this i find gives me 3-5 trades a day.

Established member

scrap the 10min time frame.i dont yet have the patience or discipline to hold for hours waiting for the pattern to complete.moving to 3mins with a 10-20 point stop loss,so i can cut it or get out sooner.

Legendary member

scrap the 10min time frame.i dont yet have the patience or discipline to hold for hours waiting for the pattern to complete.moving to 3mins with a 10-20 point stop loss,so i can cut it or get out sooner.

Established member

cut your losses and let your winners run.
you will have heard this mantra by every analyst/trainer and his dog but what does it even fking mean.to the newbie,he places a trade sets his stop loss and gets stopped out.again and again and again.hes sticking to the mantra and cutting his losses.he seldom has the chance to even contemplate letting his winners run and when he does get the odd chance the winners reverse and become a loss.
what i think they fail to mention first and foremost is cut your losses and let your winners run WITHIN YOUR TRADING PLAN.
DEVELOP YOUR TRADING PLAN/STRATEGY and in accordance to that you will know whether to cut your loss or let a winner run.

Well-known member

cut your losses and let your winners run.
you will have heard this mantra by every analyst/trainer and his dog but what does it even fking mean.to the newbie,he places a trade sets his stop loss and gets stopped out.again and again and again.hes sticking to the mantra and cutting his losses.he seldom has the chance to even contemplate letting his winners run and when he does get the odd chance the winners reverse and become a loss.
what i think they fail to mention first and foremost is cut your losses and let your winners run WITHIN YOUR TRADING PLAN.
DEVELOP YOUR TRADING PLAN/STRATEGY and in accordance to that you will know whether to cut your loss or let a winner run.

Well stated. While it is easy to tell traders 'get off the shorter time frames' I realize it is much harder to do early on in your 'career'. Having a plan versus reacting to price action allows you to move that time frame out and not agonize over every pip - that is so counter-productive.

Established member

Well stated. While it is easy to tell traders 'get off the shorter time frames' I realize it is much harder to do early on in your 'career'. Having a plan versus reacting to price action allows you to move that time frame out and not agonize over every pip - that is so counter-productive.

short time frames you end up chasing your tail and if you manage to get out of the cycle to stand back and look at what you have been doing you realise you would have been better doing nothing or alot less than than what you have been doing.so then you move out to bigger time frames.now theres fewer trades to take,you have to wait longer and the candles are bigger which requires more risk.impatience and fear take their toll and you end up back on the smaller time frames chasing your tail again.i think every trader must zoom in and out a few times,each time increasing their patience and risk tolerance before arriving at their own happy medium.

Established member

what is a trading system?
is it something you get from reading the infinite number of books out there,is it something you get from following a guru of which theres as many,is it a black/grey box you can buy and then watch the money roll in even as you sleep?
a trading system is something you have to develop by watching the price over countless hours.throw in an indicator or 2 and see how the price reacts at certain levels in relation to them.ive been told indicators are lagging,well fk me if theres a leading indicator which tells you where price will be beforehand.theres others who say they only use price action.i dont believe that.to me thats seems disorientating

Senior member

what is a trading system?
is it something you get from reading the infinite number of books out there,is it something you get from following a guru of which theres as many,is it a black/grey box you can buy and then watch the money roll in even as you sleep?
a trading system is something you have to develop by watching the price over countless hours.throw in an indicator or 2 and see how the price reacts at certain levels in relation to them.ive been told indicators are lagging,well fk me if theres a leading indicator which tells you where price will be beforehand.theres others who say they only use price action.i dont believe that.to me thats seems disorientating

Established member

disorientating when your only looking at that one key thing,the price.the price in relation to what?
use abit of artistic flair,some imagination whilst your sitting watching trades or are you one of the better traders whos mastered the art and can set your orders with stops and limits while you go for a round of golf and recieve a message on your phone telling you how much profit you have just made.

Senior member

disorientating when your only looking at that one key thing,the price.the price in relation to what?
use abit of artistic flair,some imagination whilst your sitting watching trades or are you one of the better traders whos mastered the art and can set your orders with stops and limits while you go for a round of golf and recieve a message on your phone telling you how much profit you have just made.